|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
FERRO ALLOYS CORPORATION LIMITED |
|
|
|
|
Registered Office : |
Plot No. 19477 P. o. Box 80931 Kabwe |
|
|
|
|
Country : |
Zambia |
|
|
|
|
Date of Incorporation : |
02.08.2009 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Manganese Exploration and Production plant |
|
|
|
|
No. of Employees : |
100 employees. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Zambia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ZAMBIA - ECONOMIC OVERVIEW
Zambia's economy has experienced strong growth in recent
years, with real GDP growth in 2005-12 more than 6% per year. Privatization of
government-owned copper mines in the 1990s relieved the government from
covering mammoth losses generated by the industry and greatly increased copper
mining output and profitability to spur economic growth. Copper output has
increased steadily since 2004, due to higher copper prices and foreign
investment. In 2005, Zambia qualified for debt relief under the Highly Indebted
Poor Country Initiative, consisting of approximately US$6 billion in debt
relief. Poverty remains a significant problem in Zambia, despite a stronger
economy. Zambia's dependency on copper makes it vulnerable to depressed commodity
prices, but record high copper prices and a bumper maize crop in 2010 helped
Zambia rebound quickly from the world economic slowdown that began in 2008.
Zambia has made some strides to improve the ease of doing business. A high
birth rate, relatively high HIV/AIDS burden, and market distorting agricultural
policies have meant that Zambia's economic growth has not dramatically
decreased the stubbornly high poverty rate.
Source
: CIA
Registered Name: Ferro Alloys Corporation Limited
Requested Name: FERRO
ALLOYS CORPORATION LIMITED
Other Names: None
Physical Address: Plot No. 19477 Kabwe,
Postal Address: P. o. Box 80931
Kabwe
Country: Zambia
Phone: +260-96795007/
967905287
Fax: +260-96790528
Email: info@metexmining.com
metexmining@gmail.com
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments. We recommend Credit of USD 50,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 2/08/2009
Reg. Number: Lusaka
Zambia
Nominal Capital ZMK. 50,000,000
Subscribed Capital ZMK. 50,000,000
Subscribed Capital is Subscribed in the following
form:
Position Shares
Vivek Agarwal Director
Rajnish Gupta Director
Jammu Lal GM
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as Manganese Exploration and Production plant
Imports: Asia
Exports: Worlwide
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ethiopia
Location: Rented
premises, 1,500 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Zambian Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 5000 Zambian Kwacha
Fiscal Year End: December
31, 2012
Inflation:
According
to information given by independent sources, the inflation at December
31st, 2012 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in ZMK.)
2012
Sales 20,000,000,000
Bank Name: ZNBC
Branch: Kabwe
Comments: None
Experiences: Good
None
This information was obtained from outside sources other than the
subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.90.78 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.